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Lelechka [254]
2 years ago
6

Materials purchased on account during the month totaled $190,000. Materials requisitioned and placed in production totaled $165,

000. The journal entry to record the material purchase on account is
a. Materials 165,000 Accounts Payable 165,000
b. Materials 190,000 Accounts Payable 190,000
c. Materials 190,000 Cash 190,000
d. Accounts Payable 190,000 Materials 190,000
Business
1 answer:
Tanzania [10]2 years ago
8 0

Answer:

b. Materials 190,000 Accounts Payable 190,000

Explanation:

Materials may either be purchased on credit or by cash, When materials are purchased on credit, such materials are said to have been purchased on accounts.

The entries for cash purchases are ;

Debit Supplies/Inventory account

Credit Cash account

However, when the purchase is done on account, the credit entry goes to the accounts payable and not cash.

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3 years ago
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Answer:

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3 years ago
Suppose the mean gpa of all students graduating from a particular university in 1975 was 2.30. the registrar plans to look at re
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the covenant whereby one warrants that he is the possessor and owner of property being conveyed is the covenant of: select one:
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A covenant is a two-party promise, agreement, or contract. The two parties agree that certain activities will or will not be carried out as part of the covenant.

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1 year ago
Granfield Company is considering eliminating its backpack division, which reported an operating loss for the recent year of $41,
jekas [21]

Answer:

...

Explanation:

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